11th Mar 2009 07:00
11 March 2009Dear Sir,
SUBJECT: AL JUMD TEST RESULT - BLOCK 56 OMAN
Oilex advises that testing of the Al Khlata Formation in the Al Jumd-1 well has been completed. Approximately 475 barrels of water were pumped during the test period, implying that oil in the interpreted zones which were the subject of this test has significantly lower mobility (ie is heavier) than the formation water which has flowed preferentially during the test.
Oilex will review all data available for the Al Jumd feature to determine whether there is any commercial potential remaining in this area of the block.
Figure 1 -Block 56 Oman showing Al Jumd well location(please see Oilex website for full report)
Participants in the Block 56 Exploration and Production Sharing Agreement are:
Joint Venture Party Participating Interest Oilex Oman Limited (Operator) 25% Videocon Industries Limited 25% GAIL (India) Limited 25%
Hindustan Petroleum Corporation Limited 12.5%
Bharat PetroResourcesLimited 12.5% Yours sincerely,Raymond G. BarnesTechnical Director
For further information, please contact:
Ray Barnes, Technical Director, Oilex Ltd Tel. +61 8 9485 3200 (Western Australia)
Archie Berens, Director Pelham Public Relations Tel. +44 20 7743 6679 (United Kingdom)
RFC Corporate Finance Ltd acts as Oilex's Nominated Adviser, contact Stuart Laing +618 9480 2506
The information in this report has been compiled by the Managing Director of Oilex Ltd, Bruce McCarthy B.Sc. Hons. PhD (Geology) who has over 29years experience in petroleum geology and Ray Barnes, B.Sc. Hons. the Technical Director of Oilex Ltd who has over 35 years experience in petroleum geology and is a member of the AAPG & EAGE. Estimates ofoil-in-place arereported in accordance with the standard definitions set out by the Society of Petroleum Engineers, further information on which and a glossary of terms used in the oil and gas industryis available at www.spe.org.
vendorRelated Shares:
OEX.L